Commission Clawback definition

Commission Clawback means any request for repayment of funds by the Carrier associated with this Agreement; Conditions means these general terms and conditions set out in this Schedule 1 (as amended from time to time);

Commission Clawback means any request for repayment of funds by the Carrier associated with this agreement. “Connection Date” means the date when the Carrier having received the relevant information from the Supplier is in a position to and has agreed to commence provision of the Network Services to the Customer. “Equipment” means any and all goods or software purchased by the Client and supplied under the Agreement, as set out more specifically in an Order Form. “General Conditions” means the general conditions of entitlement set out in the notification issued by the Director General for Telecommunications, in accordance with section 48(1) of the Communications Xxx 0000, pursuant to section 45 of said Act, as may be amended, modified or replaced from time to time.

Examples of Commission Clawback in a sentence

• Commission Clawback - in the event a loan facility for which we provided credit assistance is subsequently re-financed or terminated by you within 24 months of its settlement date, the Credit Provider may recover (clawback) from us up to 100% of our single upfront commission.

• Without incurring any liability, the Society may report to the FCA any information relating to Commission Clawback as required by the FCA Rules, including, without limitation, the identity of the Intermediary and any amount owed to the Society by the Intermediary pursuant to clause 5.6 above.

• In the event that the Intermediary appoints an agent or Appointed Representative, Commission will be paid to the Intermediary alone and the Intermediary alone will be liable for any Commission Clawback.

• Any Commission Clawback that occur under this Agreement, whether as a result of Partners action or inaction, or otherwise, will at Fundomate’s sole discretion either (a) be offset against any payment Fundomate owes to Partner at any time, or (b) be debited from Partner’s bank account through an ACH by Fundomate.

• The Commission statement will state the amount of Commission due to the Intermediary net of any Commission Clawback, refunds, repayments or other sums due from the Intermediary to the Society on any account whatsoever.

• Based on $1000 premium Commission Clawback Structure: Commission ClawbackHybrid*LevelWithin 0-12 Month100%Sliding Scale based on Premiums Paid (Same Approach Pre andPost LIF)Within 13-24 Month60%No Clawback Applies24 Months Onwards*No Clawback applies*No Clawback applies* • Commission will be reversed if a Premium On which Commission has been paid is refunded to the client.• In rare Instances, there may be 36months responsibility Period.

• Commission Clawback - If a Policy is cancelled within 12 calendar months of the Policy start date, We reserve the right to clawback all commissions We have paid in respect of any free cover period.